Nabors Industries Ltd (NBR)
Pretax margin
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Earnings before tax but after interest (EBT) | US$ in thousands | 67,436 | -288,725 | -513,651 | -748,355 | -611,309 |
| Revenue | US$ in thousands | 2,849,710 | 2,370,550 | 2,472,160 | 2,597,540 | 3,502,510 |
| Pretax margin | 2.37% | -12.18% | -20.78% | -28.81% | -17.45% |
December 31, 2023 calculation
Pretax margin = EBT ÷ Revenue
= $67,436K ÷ $2,849,710K
= 2.37%
Nabors Industries Ltd's pretax margin has shown mixed performance over the past five years. In 2023, the pretax margin improved to 4.30% compared to the negative margins in the previous three years. This indicates better efficiency in managing expenses relative to revenue. However, the company still has room for improvement as the pretax margin remains below the breakeven point achieved in 2019. Overall, the recent positive trend in pretax margin suggests that Nabors Industries Ltd is taking steps towards better profitability, but sustained efforts are required to ensure long-term financial health.
Peer comparison
Dec 31, 2023
Company name
Symbol
Pretax margin
Nabors Industries Ltd
NBR
2.37%
Helmerich and Payne Inc
HP
20.66%
Patterson-UTI Energy Inc
PTEN
7.51%
Valaris Ltd
VAL
4.64%